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January 24, 2022

Romanians among the most optimistic in Europe in terms of economic recovery

High unemployment and the continued slowdown in economic growth in the Southern European crisis countries in particular is still hampering economic development in the European Union (EU). According to a recent GfK Consumer Climate Europe analysis, Romanians are generally taking an optimistic view of the future, as a press release informs. Economic growth is rising while unemployment is dropping. At present, the European Commission reports that 6.7 percent of Romanians do not have a job. This is one of the lowest rates in Europe and a substantial rise is not expected in the medium term, at least. A greater number of jobs lead to rising income in the population. This is clearly reflected in the income expectations indicator, which is currently at -5.36 points. When compared with the previous year’s value (-22.7 points), it is clear that the situation on the labour market has changed considerably over the last 12 months. The consumer outlook is very varied throughout Europe when it comes to assessing how their country’s economy will develop in the coming months. While hopes for economic recovery has risen quite noticeably in some countries, they have stalled or even been crushed further in others. The highest indicator values are currently in Austria and Germany (both 0.6 points), followed by Romania (-13.6 points). The most negative outlook with regard to economic improvement was reported in Portugal (-43.4 points), France (-41.6 points) and Greece (-36.9 points).

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